Abstract
The preceding three papers have indicated that, with a rather loose use of words, the present use of natural resources involves at least two types of externality:
-
(a)
dynamic externalities associated with the effect that current extraction of the resource has on future opportunities; and
-
(b)
static externalities arising from the common property nature of several natural resources, e.g. a single oil well with competitive drilling for oil.
This is a preview of subscription content, log in via an institution to check access.
Preview
Unable to display preview. Download preview PDF.
Editor information
Editors and Affiliations
Copyright information
© 1975 Macmillan Publishers Limited
About this chapter
Cite this chapter
Simmons, P. (1975). Comments on the Papers by Butlin, Heal, Kay and Mirrlees. In: Pearce, D.W. (eds) The Economics of Natural Resource Depletion. Palgrave, London. https://doi.org/10.1007/978-1-349-15577-4_10
Download citation
DOI: https://doi.org/10.1007/978-1-349-15577-4_10
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-18276-5
Online ISBN: 978-1-349-15577-4
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)